Schools

 

 

By entering into a lease-purchase agreement with Country Roads Leasing, school boards can obtain ownership without debt obligation. Lease-purchase agreements stipulate that payments from tax-exempt agencies are subject to annual appropriations. Payments are regarded as a current obligation, not a debt, and require only the approval of the governing body rather than a public referendum.

 

County boards of education renew the lease annually until final maturity of the lease, at which time ownership passes to the school board. Country Roads Leasing lease-purchase program enables schools to cope with shrinking revenues and tax base. Instead of putting off major equipment purchases, Country Roads Leasing works with school representatives to take advantage of good market opportunities and the lowest rates available.

BENEFITS:

Solution to Your Capital Budget

  • Lease payments can be structured to meet budget constraints through flexible payment modes and lease terms.

Cash Conservation

  • Leasing provides 100% financing and structured payments conserve cash.

No Debt Created

  • Since the lease payments are subject to annual appropriations, no long term debt obligation is created.

No Voter Referendum

  • A properly structured lease purchase agreement does not constitute debt under most state constitutions; therefore, no voter referendum is required to enter into a lease contract.

Alternative Source for Funds

  • Leasing leaves other credit lines untouched and available for daily operations.

There Are No Surprises

  • Leasing offers competitive fixed rates with set payments structured to meet your capital budget needs with simple, straightforward documentation. No additional costs. No hidden fees.

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